LOOKING FOR GROWTH IN A CD?
Lock in a competitive rate and watch your savings grow with the simplicity you expect from Pibank.
Pibank easy as pie.
Benefits
You’re in control
You can renew your CD until the day before the maturity date using your Pibank App.
Ownership
You can open a Pibank CD individually or jointly with another account holder.
Learn more about Pibank CDs
Click here for Terms & Conditions
How do I open a Pibank CD?
To open a Pibank Certificate of Deposit (CD), you must first open and fund a Pibank Savings Account, which will be linked to your CD.
Your CD’s monthly interest payments will be automatically deposited into your linked Pibank Savings Account while your principal remains invested until the CD matures, subject to the terms of your account.
If you don’t have a Pibank Savings Account yet, click “Become a Customer” and complete the online application to get started.
Once your Pibank Savings Account has been funded, select “Open a New Pibank CD” to begin your application.
Fund your new CD by transferring money from your linked Pibank Savings Account. Once your deposit is received, your CD will be opened and begin earning interest according to the applicable rate and terms.
CALCULATE YOUR EARNINGS
Calculate your Pibank CD earnings
- Initial deposit:
- Interest earned:
- Total savings:
Calculator Disclaimer: The results provided by the Pibank CD Calculator are estimates based on the deposit amount, selected term, interest payment option, and the Annual Percentage Yield (APY) available at the time the calculation is performed. The results are for informational purposes only, do not guarantee future earnings, and do not constitute an offer, solicitation, or commitment to open a Certificate of Deposit (CD). Actual earnings may vary. Please refer to the applicable Pibank CD Account Terms and Truth in Savings Disclosure for complete product details. Deposits are FDIC insured up to the maximum amount permitted by law.
PIBANK CD
Frequently Asked Questions
How do I open a Pibank CD?
To open a Pibank CD, you must first open and fund a Pibank Savings account. Your Pibank Savings will serve as the funding source for your CD, and any monthly interest earned on your CD will be deposited into this Pibank Savings account.
What is the maximum balance allowed in a Pibank CD Account?
The maximum account balance allowed in a Pibank CD is five million dollars ($5,000,000).
What is the interest rate on Pibank CDs?
For the latest interest rates, visit our Pibank CD page. Rates may change at any time without notice.
I already have a Pibank Savings account. Can I use it to open a CD?
Yes, you will be required to use a funded Pibank Savings account to open and fund your Pibank CD.
Will my Pibank CD automatically renew at maturity?
Yes, your Pibank CD will automatically renew at maturity unless you choose not to have it renew at maturity.
How will I know when my Pibank CD maturity date expires?
You will receive a notification of maturity 30 days prior to the maturity date. If no action is taken on your part, the Pibank CD will renew with the existing APY and term.
Is the Pibank CD interest paid monthly or quarterly?
The interest on your Pibank CD account is calculated daily and credited monthly on the 15th. If the 15th falls on a weekend or a federal holiday, the payment will be made on the next business day.
Are there multiple Pibank CD terms available?
No. Pibank currently offers only one 12-months CD term.
Can I open more than one (1) Pibank CD?
Yes, you can open as many Pibank CD’s as you’d like – individually or as a Joint Account. You will be required to open Pibank Savings to be linked to your Pibank CD. To get started, simply go to your Pibank App and select Open a New Pibank Savings.
Are there penalties for withdrawing funds from my CD early?
Yes. If you withdraw all your funds before the 12-month term is complete, you will forfeit any interest earned during the previous three months (90-days).
Can I close a Pibank Savings account linked to a Pibank CD?
If your Pibank Savings account is linked to an active CD, both accounts must be closed together. The remaining funds will be transferred back to your originating Bank account*.
*Early withdrawal penalties will apply in accordance with your Pibank CD’s terms and conditions.
How can I close my Pibank Savings and Pibank CDs?
To close your Pibank Savings and associated CD, you will be required to follow these steps within your Pibank App:
- Transfer the CD balance to your associated Pibank Savings account.
- You will then need to initiate a wire transfer to withdraw the remaining funds and complete the account closure leaving your account balance at $0*.
*Early withdrawal penalties will apply in accordance with your Pibank CD’s terms and conditions.
How do I add beneficiaries to my Pibank CD account?
Adding beneficiaries to your account is simple with the Pibank App. Just follow these steps:
- Open the Menu and go to the Accounts option.
- Select the Pibank Savings account associated to the Pibank CD where you’d like to add a beneficiary.
- On the Pibank Savings screen, choose the Add Beneficiary option.
When submitting your request, make sure to include the beneficiary’s full name, date of birth (DOB), and Social Security Number (SSN). Once you’ve completed all the details, click Send Request. Your beneficiary information will be added to your account within 2-3 business days of it being submitted.
